Can you elaborate on the evolution of tech policies in both China and the U.S. over the last few years, and what would you identify as their principal goals?
The Biden administration over the past two years has moved rapidly on the technology policy front. This has been a two pronged strategy that includes both onshoring advanced technology manufacturing such as semiconductors, and improving R&D, and implementing new controls around a set of advanced technologies such as semiconductors, artificial intelligence, and quantum computing. A critical part of this strategy is sweeping legislation, including the CHIPS. . .